Annual Report EL 29787 for the period 8 July 2015 to 7 July 2015 and EL 29903 for the period 20 February 2015 to 7 July 2016

Abstract

Lake Lewis Project, incorporates the EL 29787 and EL 29903, is situated about 200 km west-northwest of Alice Springs on the NAPPERBY 1:250,000 Geological Series Map Sheet, SF 53-9 map sheet. EL 29787, comprising 48 blocks and was granted on July 8th 2013 and EL 29903, comprising 41 blocks, was granted on 21st January 2014 to Piper Preston Pty Ltd (now a wholly-owned subsidiary of Wildhorse Energy Ltd). The prime commodity sought is Sulphate of Potash (SOP); however, as this mineral does not naturally or directly crystallise from salt lake brines the exploration rationale is based on systematic exploration, evaluation and confirmation of replenishable brine resources contained in the tenement proper, prior to mineral process engineering evaluations and establishment of recoverable SOP from mineral brine resources. As the definition of groundwater recharge capacity of the lake is a prime importance for mineral brine resource evaluations, work carried out by the Company on the EL 29787 and EL 29903 geophysical review of all available data and re-interpretation and water sampling a total of 50 samples (EL 29787, 22 and EL 29903, 28 samples) taken. The AAPA was also contact in early 2016 to complete at Native Title Clearance Survey but it has not been to date.